Price to FCFE (P/FCFE)
Paying user area
Try for free
CSX Corp. pages available for free this week:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Debt to Equity since 2005
- Total Asset Turnover since 2005
- Price to Operating Profit (P/OP) since 2005
- Analysis of Revenues
- Aggregate Accruals
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to CSX Corp. for $22.49.
This is a one-time payment. There is no automatic renewal.
We accept:
Free Cash Flow to Equity (FCFE)
CSX Corp., FCFE calculation
US$ in millions
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
- Net cash provided by operating activities
- The net cash generated from operating activities demonstrated fluctuations over the five-year period. Beginning at $4,641 million in 2018, it increased modestly to $4,850 million in 2019. A decline was observed in 2020, dropping to $4,263 million, which may reflect operational challenges during that year. However, a recovery trend emerged in the subsequent years, with cash flow rising to $5,099 million in 2021 and further to $5,619 million in 2022, indicating a strengthening of core operating cash generation.
- Free cash flow to equity (FCFE)
- Free cash flow to equity exhibited greater volatility across the examined timeframe. It started at a relatively high level of $6,196 million in 2018, then experienced a steady decline over the next two years, falling sharply to $2,948 million in 2020. This reduction could signify increased capital expenditures, debt repayments, or other financing activities affecting equity holders. From 2020 onwards, FCFE showed a partial recovery, increasing to $3,411 million in 2021 and notably rebounding to $5,546 million in 2022, suggesting improved financial flexibility and potential for shareholder returns.
- Overall insights
- The data indicates that while operating cash flows remained relatively stable with a dip in 2020 followed by growth, the FCFE faced more pronounced decreases and recovery phases. The rebound in operating cash flow after 2020 aligns with enhanced financial performance driving free cash flow improvements by 2022. This pattern may reflect the resolution of temporary operational or capital expenditure challenges and an overall strengthening in financial position towards the end of the period.
Price to FCFE Ratio, Current
CSX Corp., current P/FCFE calculation, comparison to benchmarks
| No. shares of common stock outstanding | |
| Selected Financial Data (US$) | |
| Free cash flow to equity (FCFE) (in millions) | |
| FCFE per share | |
| Current share price (P) | |
| Valuation Ratio | |
| P/FCFE | |
| Benchmarks | |
| P/FCFE, Competitors1 | |
| FedEx Corp. | |
| Uber Technologies Inc. | |
| Union Pacific Corp. | |
| United Airlines Holdings Inc. | |
| United Parcel Service Inc. | |
| P/FCFE, Sector | |
| Transportation | |
| P/FCFE, Industry | |
| Industrials | |
Based on: 10-K (reporting date: 2022-12-31).
1 Click competitor name to see calculations.
If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.
Price to FCFE Ratio, Historical
CSX Corp., historical P/FCFE calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| Free cash flow to equity (FCFE) (in millions)2 | ||||||
| FCFE per share3 | ||||||
| Share price1, 4 | ||||||
| Valuation Ratio | ||||||
| P/FCFE5 | ||||||
| Benchmarks | ||||||
| P/FCFE, Competitors6 | ||||||
| FedEx Corp. | ||||||
| Uber Technologies Inc. | ||||||
| Union Pacific Corp. | ||||||
| United Airlines Holdings Inc. | ||||||
| United Parcel Service Inc. | ||||||
| P/FCFE, Sector | ||||||
| Transportation | ||||||
| P/FCFE, Industry | ||||||
| Industrials | ||||||
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 Data adjusted for splits and stock dividends.
3 2022 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= ÷ =
4 Closing price as at the filing date of CSX Corp. Annual Report.
5 2022 Calculation
P/FCFE = Share price ÷ FCFE per share
= ÷ =
6 Click competitor name to see calculations.
- Share Price
- The share price exhibited an overall upward trend from 2018 to 2021, increasing from $22.7 to a peak of $35.17. However, in 2022, the share price decreased to $31.67, indicating a pullback after several years of growth.
- Free Cash Flow to Equity (FCFE) per Share
- The FCFE per share showed a declining trend from 2018 to 2020, dropping from $2.53 to $1.29. This decline was followed by a modest recovery in 2021 to $1.56, and a significant increase in 2022 to $2.69, surpassing the initial 2018 value.
- Price to FCFE (P/FCFE) Ratio
- The P/FCFE ratio displayed considerable volatility over the five-year period. It rose sharply from 8.96 in 2018 to above 22 in 2020 and 2021, indicating an increased valuation relative to free cash flow during those years. In 2022, the ratio declined notably to 11.78, reflecting either an improvement in FCFE per share, a reduction in share prices, or a combination of both factors.
- Overall Insights
- The data suggests that although the share price generally increased until 2021, the underlying free cash flow per share experienced a dip in the middle years before recovering strongly in 2022. The elevated P/FCFE ratios during 2020 and 2021 imply that the market valued the company's cash flow more highly relative to its actual performance during those years. The correction in 2022 in both share price and P/FCFE ratio aligns with the improved FCFE per share, signaling a potential realignment between the market valuation and the company’s cash-generating capability.